It seemed like most the folks you have on staff are CPA or other, but no specific legal experts.

The seller has the two lots legally separated, but due to deed restriction imposed by the subdivision development, found that building a house on the “tennis court” lot was not allowable. 

. $150 cash flow on any rental especially a triplex is dangerzone imo. 1 month of vacancy of 1 unit could destroy a years worth of financial gains.  

Signing the lease demonstrates they agree to the terms and then you can hold them accountable.If you don't do this, then the person named on the lease and paying the rent could disappear and you would have no legal authority to charge the remaining three for unpaid rent.

Hello, we are just starting out our investment journey. we have one STR property and 1 LT property and I want to gain more knowledge of it. 

I won't be able to make the cottage legal rental without living in the primary home myself.

So we GAIN 7million + tax payors etc.. 

I am wondering if anyone has ever taken legal action against property managers, and if they think we have a potential case? 

The seller's LLC pays capital gains tax and depreciation recapture, while the buyer's LLC uses the purchase price as the new cost basis.

Hello Doug, I am not a real estate attorney nor is this legal advice.Unless someone's state has specific laws banning contract assignments you should be fine doing the following.